Question

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 29,000 units were started. At the end of the month all started units were 50% complete with respect to conversion. Direct Materials placed into production had a total cost of $310,000 and the total conversion cost for the month was $298,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material for the month of March. (Round answer to the nearest cent.)

Answer 1

• Cost per Equivalent unit of DIRECT MATERIAL = $ 10.68
• Working for above answer

EUP - Weighted Average Method	Units	% Material	EUP Materials
Units TRANSFERRED	0	100%	0
Units of ENDING WIP	29,000	100%	29,000
Equivalent Units of Production			29,000
COST per EUP			Material
Cost of Beginning WIP			$                          -
Cost incurred during the period			$        310,000.00
Total Costs		Costs	$        310,000.00
Equivalent units of production		EUP	29,000
Cost per EUP			$            10.68966 or $ 10.69